Blog Posts in March, 2009

The Consumer Product Safety Commission and Yamaha Motor Corp USA have announced a “free repair” program of approximately 120,000 off-highway recreational vehicles. This program refers to the the Rhino 660 , the Rhino 700, and the Rhino 450. The purpose of this free repair service is to make some modifications to the all-terrain vehicles to minimize the chances of a rollover accident happening. ...

The Insurance Institute for Highway Safety has unveiled its new roof strength rating system for motor vehicles. The IIHS says that out of the 12 small SUV’s that were tested, only four of them earned a “good” rating, which is the highest rating possible. The roof strength test pushes a metal plate against one side of the roof at a regular speed, and before getting crushed five inches, the roof ...

In a previous blog (Bernie Madoff: A Modern Day Ponzi), I discussed Bernie Madoff’s modern day Ponzi scheme. I would now like to look at the man who started this elaborate fraud system. The scheme got its name from Charles Ponzi, born in Italy in 1882. Ponzi immigrated illegally to Boston when he was 21. He arrived in the United States virtually broke having gambled most of his savings during the ...

An ASTM International committee comprised of major crib makers is pushing forward a proposal to ban drop-side cribs. Among the reasons for this is that there have been over three million cribs recalled since the fall of 2007 and a number of child injuries and deaths have occured because of cribs that were poorly designed, incorrectly assembled, or came with defective or missing crib parts. ...

The biggest financial fraud in American history was pulled off by a New York financier by the name of Bernie Madoff. Madoff (pronounced “made off”) made off with more than $50 billion of his clients’ money (for some, their life savings) by promising his clients higher returns on their investments than they could expect elsewhere. And he delivered on this promises with sixteen percent returns in ...

As if the publicity couldn’t get worse for financially beleaguered auto making giant General Motors, the company announced two separate auto recalls last week. GM is recalling about 1,738 2009 Hummer H3T’s because of a problem with the front support strap of the vehicle’s fuel tank. In the event that the strap becomes fractured, the 27-gallon tank could separate from the vehicle and potentially ...

In addition to hiring a lawyer experienced in the courtroom (see previous post ), there are other reasons a contingent fee lawyer can help assure a successful outcome of your Colorado business litigation. Reason #3: You need a lawyer with special skills. The special skills of an injury lawyer will increase the likelihood of recovery of large sums of money for his/her corporate client: The injury ...

The National Highway Traffic Safety Administration says it is planning a complete review of existing child safety restraint standards. The announcement, reports the Chicago Tribune, comes in the wake of the newspaper’s findings that existing safety standards may be flawed. The Tribune says that it found, buried in thousands of NHTSA reports, results from tests used to rate the car safety of 2008 ...

In previous blog posts, Colorado Business Litigation Risks & Colorado Business Litigation Risks, Part II, I listed some of the risks for a corporation that hires an hourly fee lawyer to handle its “high risk/high reward” commercial litigation. I pointed out that prudent corporations understand the risk of losing the case and should not be saddled with huge attorneys fees on top of that loss. Smart ...

In a previous post about high risk and Colorado business litigation, I reminded companies who hire lawyers by the hour of the substantial expense of that arrangement as well as the potential conflict of interest between the business and its lawyers. Now, let’s look at a couple of other risks. Risk #3: Lack of courtroom experience. The law firm who bills you hourly often has a bunch of junior ...

In the last four days, the Consumer Product Safety Commission has announced the recalls of four products due to concerns that they could pose an electrical or fire hazard to users. Products that are part of the recalls include: Approximately 13,000 Ritchie immersion heaters: The reason for the recall is that there is a possibility the heater could crack, exposing the heating element in the heater ...

When one company sues another in a dispute involving lots of money with an uncertain outcome, what kind of law firm should the company hire? Some Colorado businesses think (unwisely) they always need a traditional business law firm. These traditional law firms bill by the hour, even by the minute! And in a complex case, those hours add up quickly, with no assurance of any recovery. In a case where ...